Medtronic
Medtronic, a leading medical company in Minnesota, has announced that it will be reducing its global workforce in an effort to streamline operations and align resources with its strategic priorities.
The company has already begun notifying some employees about the job cuts, with more notifications expected to follow in the coming months. However, the exact number of job cuts has not been disclosed.
Although difficult, these decisions are necessary to position the company for future growth.
The Minnesota department of employment and economic development has stated that it is currently working with Medtronic to gather more information about the recently announced layoffs.
The department has not yet received a notification or WARN alert from the company. Under WARN regulations, employers must provide advance notice to workers and other interested parties if they are planning a mass layoff or are preparing to shut down their business.
KOO
Due to financial losses and challenges in securing funding, Koo, an Indian microblogging platform, has terminated approximately 30% of its employees. The company has been competing with Twitter for market share in India, but struggles with proving unit economics.
Koo has offered compensation packages, extended health benefits and aid in finding new jobs to the laid-off employees. Despite the challenges, Koo plans to continue operating and will focus on maximising efficiency.
However, Koo is facing tough competition from Twitter, which underwent massive changes after Elon Musk’s takeover. Koo had previously expressed its willingness to hire ex-Twitter employees.
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